Last week the U.S. Department of Education announced their latest move to assist some individuals with financially debilitating student loan debt. This part of the Obama Student Aid Bill of Rights, is directed at hundreds of thousands of borrowers who are permanently disabled and cannot work. The Department of Education started sending out letters this week to student loan borrowers that have been identified, with the help of the Social Security Administration, as receiving disability payments and are eligible to have their student loans discharged. This type of student loan relief is known as a “Total and Permanent Disability” loan discharge. There were 387,000 permanently disabled individuals identified, with nearly half of these currently in student loan default, as qualifying with an estimated $7.7 billion in student loans.

In a statement, Education Under Secretary Ted Mitchell said, “Too many eligible borrowers were falling through the cracks, unaware they were eligible for relief.” He added, "Americans with disabilities have a right to student loan relief. And we need to make it easier, not harder, for them to receive the benefits they are due." These statements are tantamount to an admission that many student loan borrowers, whom are eligible for student loan debt relief or forgiveness, never receive the assistance they are due under the law. Many times, borrowers who are legally due student loan forgiveness, spend years petitioning, but never achieve final discharge.

If you need help understanding or applying for student loan debt relief, you’re not alone. An attorney who specializes in student loan debt relief can be of enormous help and get you the relief you deserve. Try calling Chris Bush, the San Diego Student Loan Lawyer, at (619) 295-3322 for a free initial consultation.

We have a new sister website dedicated to Student Loan Debt Resolution. Please visit San Diego Student Loan Lawyer for more information regarding options for management and settlement of your student loan debt.

The U.S. Department of Education announced, on March 25, 2016, that evidence uncovered in its ongoing investigation of Corinthian Colleges, Inc. indicates that students were defrauded at 91 former Corinthian campuses nationwide and that those students have a clear path to student loan forgiveness. Students in more than 20 states who attended Corinthian's Everest or Wyo Tech schools, now represent the largest group of borrowers eligible for loan relief as a result of the Department of Education's investigation into Corinthian.

Also reporting at the announcement was the Department's Special Master for Borrower Defense, Joseph A. Smith, who delivered his third report on borrower defense to repayment (BD) issues. More than $130 million in student loan discharges have been approved to date for more than 8,800 former Corinthian Colleges students.

As in previous announcements, U.S. Education Secretary, John B. King Jr. was openly critical of Corinthian Colleges, Inc. saying, "When Americans invest their time, money and effort to gain new skills, they have a right to expect they'll get an education that leads to a better life for them and their families. Corinthian was more worried about profits than about students' lives... we will continue to take action to protect students and taxpayers from unscrupulous companies trying to profit off of students who simply want to better their lives."

If you feel you were defrauded by one of the Corinthian College branches and incurred federal student loan debt while attending, it's time to find out if you're eligible for loan relief. We will continue to follow this issue and post new information, as it becomes available, to help those who were defrauded by Corinthian. Call us, the San Diego Student Loan Lawyer, at (619) 295-3322 for a free initial consultation.

It’s not just young people struggling to pay back student loan debt but more and more retirees are struggling due to this student loan debt burden. An estimated 700,000 seniors on Social Security are still paying off student loans. Recently nearly 160,000 of these retirees have had their disability and retirement payments garnished to pay down student loan debt.

The Student loan epidemic carries over to the next generation as well. There needs to be a solution that will forgive seniors on fixed incomes. Chris Bush of DebtDoc states. “This is far too common. The US Treasury can assist the US Department of Education in collecting defaulted student loans by offsetting Social Security Benefits. Yes, the cause of the Defaulted Federal Student Loan is sometimes medical issues, etc. But once those issue arise, other debt resolution options become available. Those options should be explored immediately, long before the offset of benefits occur.”

Out of the $1.2 trillion in student loan debt, two-thirds is owned by people under 40 but one-third or $18.2 billion is owned by seniors over the age of 65. Student loan debt has ballooned over recent years, surpassing the overall credit card debt which is estimated at $703 billion.

Many seniors are not in debt because they have been irresponsible but because of medical hardship. Nearly 60% of all personal bankruptcies are due to unforeseen medical needs. Unlike credit card debt and medical bills, student loans cannot be rectified under one form of bankruptcy. The student loan obligation will be with an individual for life until paid off.

Student loan balances increase and interest rates accrue no matter what an individuals situation may be. Loss of career, cancer treatments, Alzhiemer’s disease or soldiers wounded on the battlefield are not exceptions for student loan debt forgiveness.

Politicians cannot ageee on how to handle this growing problem. With $18 trillion in debt, the US government cannot afford to pay down everyones student loan debt. This should not be the goal to begin with. In certain situations however, that effect a large number of seniors on fixed income, the government should and must find a reasonable solution to forgive some or all of this debt. Student Loan debt should not further punish the elderly on fixed incomes. The US government should not be treating the most fragile of our population with such devastating disregard.

Student Loan Debt Relief

If you are a student that has Federal Student Loans, you may qualify for a variety of the student loan forgiveness programs that are available to to you. You can start today and enter into a loan forgiveness program and begin the road to your financial freedom!

Contact us today to learn about student loan debt relief. Every consolidated loan has forgiveness attached at the end of the loan term. At the end of the consolidated loan's term, any unpaid balance will be forgiven by the Department of Education. There are many repayment options in the Obama Student Loan consolidation program, and there are provisions which allow for an early forgiveness or principal reduction many consolidated loans.

Student Loan Relief

Debt among pupils features reached astonishing levels in current many years. While a great deal of a young person’s debt is in the form of pupil loans, youthful adults are also plagued by car loans, mortgages and overwhelming amounts of credit card debt.

Credit card financial obligation is quickest growing among youthful grownups aged 18 to 24. From 1982 to 2011, credit card debt among this demographic more than doubled. In the same time frame, credit card financial obligation among 25- to 34-year-olds increased more than 50 percent.

And studies show that debt just increases from here. The best method to curb debt later in life is to find out debt management methods early. Debt decrease strategies like debt settlement can assist you spend down outstanding debts now so you can live debt-free later on.